Business
Pre-Close Trading Update
Pre-Close Trading Update.
About this update from Hargreaves Services Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 4767A\n Hargreaves Services PLC\n 02 June 2021\n \n \n \n \n \n Hargreaves Services plc \n \n \n (\"Hargreaves\" or the \"Group\")\n \n \n \n \n \n Pre-Close Trading Update and Notification of Preliminary Results\n \n \n \n \n \n \n Hargreaves Services plc \n \n (AIM: HSP), a diversified group delivering services to the industrial and property sectors, provides the following update on trading ahead of reporting its preliminary results for the year ended 31 May 2021.\n \n \n \n \n The Board expects to report results in line with market expectations which have recently been materially upgraded in the light of the very strong performance of the Group's Joint Venture in Germany (\"HRMS\") and the accelerated completion at the Unity Joint Venture in Hargreaves Land.\n \n The Group had no bank debt and held cash reserves of £28.3m at the year end, compared with a net bank debt of £13.5m at 31 May 2020. Additionally, the only debt held by the Group is in respect of leasing debt related to specific assets which was approximately £12.0m at 31 May 2021, compared with £14.6m twelve months earlier, resulting in an overall net cash position of £16.3m compared with £28.1m of net debt at 31 May 2020.\n \n Notification of Preliminary Results\n The Group expects to report its preliminary results for the year ended 31 May 2021 on Wednesday 28 July 2021. Details of the analyst meeting to accompany the results will be provided in due course.\n \n \n \n \n \n \n For further details:\n \n \n \n \n \n \n \n \n \n \n \n Hargreaves Services\n \n \n Gordon Banham, Chief Executive Officer\n \n \n John Samuel, Group Finance Director\n \n \n \n \n \n \n \n www.hsgplc.co.uk\n \n \n Tel: 0191 373 4485\n \n \n \n \n \n \n Walbrook PR (Financial PR & IR)\n \n \n Paul McManus / Lianne Cawthorne\n \n \n \n \n \n \n \n \n Tel: 020 7933 8780 or \n [email protected]\n \n Mob: 07980 541 893 / 07584 391 303\n \n \n \n \n \n \n \n \n \n N+1 Singer (Nomad and Joint Corporate Broker)\n \n \n Sandy Fraser/Justin McKeegan/Rachel Hayes\n \n \n \n \n \n \n \n Tel: 020 7496 3000\n \n \n \n \n \n \n Investec (Joint Corporate Broker)\n \n \n Sara Hale/David Anderson/Shalin Bhamra\n \n \n \n \n Tel: 020 7597 5970\n \n \n \n \n \n \n \n &nbs...